Amanze Chinonye
Zimbabwe’s state-owned railway operator is negotiating a $115 million financing facility with the African Export-Import Bank (Afreximbank) to acquire locomotives and wagons and rehabilitate parts of its ageing rail network, officials said.
The National Railways of Zimbabwe (NRZ) is working with the state-owned Mutapa Investment Fund on the proposed facility, which would finance 10 locomotives, 315 wagons and infrastructure rehabilitation.
Join our WhatsApp ChannelThe financing remains under negotiation and has not been disbursed.
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NRZ’s freight volumes have fallen sharply from their historical peak, with the operator now moving about 2 million tonnes a year compared with roughly 12 million tonnes during its stronger operating years.
Years of underinvestment, ageing rolling stock and deteriorating infrastructure have limited the railway’s ability to compete with road transport and handle growing demand for bulk freight.
Mutapa Investment Fund Chief Executive John Mangudya said the proposed financing would support the acquisition of rolling stock and rehabilitation of key sections of the network.
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NRZ is seeking to capture more bulk freight from Zimbabwe’s mining sector and has begun moving lithium concentrate by rail to Mozambique’s Maputo port in partnership with private operators.
The railway operator is also pursuing other funding to restore its existing fleet. In May, it said it had secured a $15 million facility from CBZ Bank, including $3 million for the refurbishment of three locomotives.
Mutapa has estimated that about $600 million would be required for a broader rehabilitation of NRZ, meaning the proposed Afreximbank facility would cover only part of the investment needed to restore the network.
NRZ operates about 2,760 km of railway lines. Zimbabwean authorities are seeking to revive the network to improve the movement of minerals and other bulk commodities and reduce pressure on the country’s roads.
Amanze Chinonye is a Staff Correspondent at Prime Business Africa, a rising star in the literary world, weaving captivating stories that transport readers to the vibrant landscapes of Nigeria and the rest of Africa. With a unique voice that blends with the newspaper's tradition and style, Chinonye's writing is a masterful exploration of the human condition, delving into themes of identity, culture, and social justice. Through her words, Chinonye paints vivid portraits of everyday African life, from the bustling markets of Nigeria's Lagos to the quiet villages of South Africa's countryside . With a keen eye for detail and a deep understanding of the complexities of Nigerian society, Chinonye's writing is both a testament to the country's rich cultural heritage and a powerful call to action for a brighter future. As a writer, Chinonye is a true storyteller, using her dexterity to educate, inspire, and uplift readers around the world.
